SL Green Realty Reports Record Quarterly Earnings, Surpassing Expectations
April 21, 2023
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SL ($NYSE:SLG) Green Realty, the largest commercial office real estate investment trust in New York City, recently reported its quarterly earnings, surpassing all expectations.
Additionally, their revenue of $223.58M exceeded estimates by an impressive $30.02M. As a result, the company’s stock has dramatically increased in the past few weeks. SL Green Realty is a real estate investment trust and the largest office landlord in New York City. The company also invests in and manages a variety of real estate assets located outside of Manhattan, such as office buildings, supermarkets, parking lots, and multi-family properties throughout the United States. The company is headquartered in New York City and is listed on the New York Stock Exchange.
Share Price
SL Green Realty reported a record quarterly earning on Wednesday, surpassing investor expectation. The stock opened at $24.1 and closed at $26.0, representing a 6.0% increase from the previous closing price of $24.5. The company’s strong financial performance was attributed to their focus on disciplined capital deployment, cost management, and debt refinancing initiatives. Investors are confident in the company’s ability to achieve further success, as they continue to focus on creating value for their shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SLG. More…
| Total Revenues | Net Income | Net Margin |
| 826.74 | -95.24 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SLG. More…
| Operations | Investing | Financing |
| 276.09 | 425.81 | -654.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SLG. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.36k | 7.26k | 67.77 |
Key Ratios Snapshot
Some of the financial key ratios for SLG are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 21.6% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has performed an analysis of SL GREEN REALTY’s financials and based on the results, we can see that they are strong in asset, dividend, and profitability but weak in growth. According to the Star Chart,SL GREEN REALTY is classified as ‘cow’ which means that it has a track record of providing consistent and sustainable dividends. This makes it attractive to investors looking for steady income. On the other hand, SL GREEN REALTY has a low health score of 2/10 with regard to its cashflows and debt. This suggests that it may not be able to safely ride out any crisis without the risk of bankruptcy. Therefore, investors need to bear this in mind when considering their potential investment. More…
Peers
The commercial real estate industry is highly competitive, with a large number of companies vying for market share. SL Green Realty Corp is one of the largest and most successful commercial real estate firms in the industry, with a long track record of success. The company’s main competitors are Picton Property Income Ltd, DDMP REIT Inc, and Cromwell Property Group. These firms are all large and well-established companies with significant resources and a strong presence in the industry.
– Picton Property Income Ltd ($LSE:PCTN)
The company’s market cap is 468.15M as of 2022. The company is a property income fund that invests in a portfolio of UK commercial properties. The company’s objective is to provide shareholders with an attractive level of income and capital growth by investing in a diversified portfolio of UK commercial properties.
– DDMP REIT Inc ($PSE:DDMPR)
Dividend and income-oriented real estate investment trust that owns and operates a diversified portfolio of real estate assets in the United States. The company’s portfolio includes office, retail, industrial, and residential properties.
– Cromwell Property Group ($ASX:CMW)
Cromwell Property Group is a real estate investment trust that owns and operates a portfolio of properties across Australia, New Zealand, and Europe. The company has a market cap of 5.46 billion as of 2022. Cromwell Property Group’s portfolio includes office, retail, industrial, and logistics properties. The company also owns and operates a number of hotels and serviced apartments.
Summary
SL Green Realty is an investment trust that focuses on acquiring, managing and maximizing value of Manhattan commercial properties. The latest quarterly report showed strong financial performance and beat expectations. These strong results further generated a positive impact on the stock price which moved up the same day. For investors, SL Green Realty has delivered a good return since its inception and looks to be a good value pick in the current market conditions.
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